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11.1 Accounting policy

Annual Report 2019 > 11.1 Accounting policy
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Fees and commissions directly related to the origination of financial assets or liabilities (both income and costs) that are not an integral part of the effective interest rate are accounted for using the straight-line method. Other fees and commissions related to financial services (e.g. cash management services, brokerage services, investment advisory services, financial planning, investment banking services and asset management services) and margins earned on FX transactions with clients are recognized in the profit and loss account when the service is provided.

Revenue from management of open-end pension funds and revenue and fees received from funds and mutual fund companies are recognized at the time of the performance.